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- Nick Elvin
Recruitment activity in the City of London has increased by 46% over the past year, according to research from recruitment firm Astbury Marsden.
However, the firm says says it is still too early to say whether this represents a return to sustained growth in the City jobs market.
A total of 3,470 new jobs were created in the City in September this year, compared to 2,380 jobs created in September 2013. The figures also show an increase of 34% since August 2014, when 2,580 new roles were created.
Astbury Marsden explains that the surge in hiring has been driven by a number of factors, with a strong global equity market, and increased hiring in regulatory and compliance roles coinciding with a bounce back from a traditionally slow summer period.
Adam Jackson, director at the firm, said: “Back office areas like risk control, regulatory compliance and technology were high on the agenda in the City in September but we are now also starting to see many employers feel that the time is right to drive business growth by building up their revenue earning teams.”
“As the IPO and M&A markets heat up, this will have a positive knock on effect on hiring in equities trading, broking and corporate finance departments.”
Jackson adds that nearly all of the investment banks are continuing to invest heavily in technology staff as they respond to regulatory demands to improve the way in which they deal with protecting and securing data.
“The cyber security jobs market has grown rapidly in recent months and the banks are actively recruiting information security specialists to shore up their technology teams,” he said. “Firms are now realising just how damaging a cyber-security attack can be on what is a core asset and competitive differentiator – their data.”
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